Columbia Yukon Acquires Additional Properties Near Its "Storie" Property Molybdenum Deposit
10 Mars 2011 - 9:37PM
Marketwired
Columbia Yukon Explorations Inc. (the "Company" or "Columbia
Yukon") (TSX VENTURE: CYU)(FRANKFURT: VOR) is pleased to announce
that it has, subject to regulatory approval, acquired twelve
mineral claims (the "Additional Property"), comprising 2,329
hectares adjacent to the Company's Storie Property molybdenum
deposit located near Cassiar, British Columbia.
The Additional Property has been acquired by Columbia Yukon as a
potential alternate tailings and mill site for the future
development of the Company's molybdenum project. The Additional
Property is being acquired from Eveready Resources Corporation
("Eveready") of Calgary, Alberta. The Company previously acquired
its original "Storie Property" claims from Eveready under an
agreement dated March 20, 2006. In consideration for the Additional
Property, the Company has agreed to issue 650,000 shares to
Eveready, and as well, Eveready has retained a 5% NSR on the
Additional Property. Additionally, as part of the Agreement for the
acquisition of the Additional Property, the buyout of Eveready's
2.5% NSR on the original Storie Property claims has been increased
by $1,200,000 from $4,062,000 to $5,262,000.
About Columbia Yukon Explorations Inc.
Columbia Yukon is a Canadian mineral exploration company focused
on the development of its Storie Property molybdenum deposit
situated about 6 km southwest of Cassiar, British Columbia. The
Storie Property molybdenum deposit has an April 2009 updated NI
43-101 compliant Measured and Indicated Resource of 139.82 million
tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39
million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off
of 0.030% Mo). Cassiar, British Columbia is located 15 km by road
west of Highway 37 which connects to Watson Lake, Yukon, to the
north and Dease Lake and Stewart, British Columbia, to the
south.
Columbia Yukon Explorations Inc.
Douglas L. Mason, Director (Chairman)
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Columbia Yukon Explorations Inc. Mr. Clive Shallow,
Investor Communications 604-922-2030 or Canada (toll free):
1-888-888-9122 USA (toll free): 1-888-888-9123 604-922-2037 (FAX)
info@columbiayukon.com www.columbiayukon.com
(TSXV:CYU)
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